Insider info or smart positioning? XRP wallets tell a story.

The big mystery — was there a leak of insider information before Ripple CEO Brad Garlinghouse’s major announcement that the U.S. Securities and Exchange Commission (SEC) had decided to drop its lawsuit? According to an analysis by Santiment, in the two months leading up to the announcement, wallets holding at least 1 million XRP increased their holdings by 6.5%, reaching a total of 46.4 billion coins. In addition, Ripple’s network activity surged sixfold in March, with significantly more unique wallets interacting with the network compared to previous months. Overall, based on this analysis — which seems to be the only one covering the topic so far — it’s hard to conclusively say there was a serious leak. After all, many people were expecting such an outcome, and it’s completely normal for a lot of them to have positioned themselves ahead of time. We’ve also discussed this multiple times and pointed out that such a development in the case wouldn’t be all that surprising. Interestingly, this may be the reason why the price didn’t react as strongly as many expected — the news wasn’t exactly shocking. Let’s not forget that XRP has already seen strong growth over the past year. Now we’ll have to see whether that growth was merely speculative, driven by expectations of a favorable outcome with the SEC, or if Ripple can maintain and defend its market cap going forward. One thing’s for sure — the coming months will be interesting.